France's Binance Head Targeted in Latest Wrench Attack

Binance President Targeted in France’s Latest Crypto-linked Wrench Attack

Another wrench attack has been reported in France, this time attacking a Binance executive.

According to local reports, David Prinçay, President of Binance France, was the latest target in this kind of incident, denominated wrench attacks, that seek to extract cryptocurrency from holders using violence and coercion.

Three hooded individuals entered a building located in Val-de-Marne on February 12 with the intention of entering Prinçay’s home, but were unsure of his specific address. The trio first forced the door of another residence to find out the right apartment to invade, indicating that they did not have complete intelligence on Prinçay’s whereabouts before the attack.

Nonetheless, at the time, Prinçay was not at home, and the individuals left the premises with two phones from Prinçay’s residence. In addition, the same trio was reported to have hit a resident in the head with a rifle in another location later that day. Video surveillance footage revealed the men used the same car as the one spotted during Prinçay’s home invasion.

A woman heard the individuals discuss the location af a second crypto entrepreneur, identified only as “Stéphane.” “The address is not the right one, Stéphane lives at 41,” they stated. Reports confirmed that a crypto entrepreneur called Stéphane did indeed live on that street.

French police arrested the three suspects after they took a train, detaining them at the Lyon Perrache station.

This incident follows an increasing wave of cryptocurrency-tied kidnappings and violence targeting high-level cryptocurrency holders, including a magistrate in Grenoble, and even Ledger co-founder David Balland and Paymium CEO Pierre Noizat.

Binance co-founder and former CEO Changpeng Zhao referred to France in September, stating that the situation was going “downhill” as this crime wave expanded.

FAQ

• What recent incident involving a Binance executive occurred in France?
  David Prinçay, President of Binance France, was the victim of a wrench attack intended to extract cryptocurrency through coercion.

• What actions did the assailants take during the attempted invasion?
  Three hooded individuals attempted to break into Prinçay’s home but left with two of his phones after discovering he was not home.

• What did the suspects do later on the same day?
  The same trio assaulted a resident elsewhere, hitting them in the head with a rifle, and also discussed a second crypto entrepreneur’s location.

• How have law enforcement and cryptocurrency leaders responded to the increase in violence?
  French police have arrested the suspects, while Binance co-founder Changpeng Zhao noted a concerning rise in violence against cryptocurrency figures in France.